Stepdown Required Loss Percentage definition

Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ --------------------------------- June 2008 -- May 2009 2.75% with respect to June 2008, plus an additional 1/12th of 1.50% for each month thereafter June 2009 -- May 2010 4.25% with respect to June 2009, plus an additional 1/12th of 1.00% for each month thereafter June 2010 -- May 2011 5.25% with respect to June 2010, plus an additional 1/12th of 0.75% for each month thereafter June 2011 and thereafter 6.00%
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ --------------------------------- October 2008 - September 2009 0.80% with respect to October 2008, plus an additional 1/12th of 0.95% for each month thereafter October 2009 - September 2010 1.75% with respect to October 2009, plus an additional 1/12th of 1.00% for each month thereafter October 2010 - September 2011 2.75% with respect to October 2010, plus an additional 1/12th of 0.85% for each month thereafter October 2011 - September 2012 3.60% with respect to October 2011, plus an additional 1/12th of 0.45% for each month thereafter October 2012 and thereafter 4.05%
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ----------------------------- -------------------------------- January 2009 - December 2009 2.60% with respect to January 2009, plus an additional 1/12th of 0.90% for each month thereafter January 2010 - December 2010 3.50% with respect to January 2010, plus an additional 1/12th of 0.50% for each month thereafter January 2011 - December 2011 4.00% with respect to January 2010, plus an additional 1/12th of 0.25% for each month thereafter January 2012 and thereafter 4.25%
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More Definitions of Stepdown Required Loss Percentage

Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: STEPDOWN REQUIRED LOSS DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------ --------------------------- July 2008 - June 2009 1.60% with respect to July 2008, plus an additional 1/12th of 2.00% for each month thereafter July 2009 - June 2010 3.60% with respect to July 2009, STEPDOWN REQUIRED LOSS DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------ --------------------------- plus an additional 1/12th of 2.00% for each month thereafter July 2010 - June 2011 5.60% with respect to July 2010, plus an additional 1/12th of 1.65% for each month thereafter July 2011 - June 2012 7.25% with respect to July 2011, plus an additional 1/12th of 0.80% for each month thereafter July 2012 and thereafter 8.05%
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ ------------------------------------ ______________________________ ___% with respect to __________, plus an additional 1/12th of ___% for each month thereafter ______________________________ ___% with respect to __________, plus an additional 1/12th of ___% for each month thereafter ______________________________ ___% with respect to _________, plus an additional 1/12th of ___% for each month thereafter _________ and thereafter ___%
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ --------------------------------- May 2009 - April 2010 1.30% with respect to May 2009, plus an additional 1/12th of 1.55% -61- for each month thereafter May 2010 - April 2011 2.85% with respect to May 2010, plus an additional 1/12th of 1.65% for each month thereafter May 2011 - April 2012 4.50% with respect to May 2011, plus an additional 1/12th of 1.35% for each month thereafter May 2012 - April 2013 5.85% with respect to May 2012, plus an additional 1/12th of 0.70% for each month thereafter May 2013 and therafter 6.55% Stepdown Trigger Event: With respect to the Certificates on or after the Stepdown Date, a Distribution Date on which (1) the quotient, measured on a rolling three month basis, of (A) the aggregate Stated Principal Balance of all Mortgage Loans that are 60 or more days Delinquent (including, for the purposes of this calculation, Mortgage Loans in foreclosure and REO Properties and Mortgage Loans with respect to which the applicable Mortgagor is in bankruptcy) and (B) the aggregate Stated Principal Balance of the Mortgage Loans as of the preceding Servicer Remittance Date, equals or exceeds the product of (i) 41.45% and (ii) the Required Percentage or (2) the quotient (expressed as a percentage) of (A) the aggregate Realized Losses incurred from the Cut-off Date through the last day of the calendar month preceding such Distribution Date and (B) the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds the Stepdown Required Loss Percentage. For purposes hereof, for any Distribution Date, the calculation of "rolling three-month basis" requires first, the calculation of the quotient described in (a) of this definition for each of the three (3) Due Periods immediately prior to such Distribution Date, second, the addition of such 3 quotients and third, dividing the sum of such 3 quotients by 3. Subcontractor: Any outsourcer that performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to 5% or more of the Mortgage Loans under the direction or authority of a Servicer (measured by aggregate Stated Principal Balance of the Mortgage Loans, annually at the commencement of the calendar year prior to the year in which an Assessment of Compliance is required to be delivered,...
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table:
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE October 2006 - September 2007 2.50% with respect to October 2006, plus an additional 1/12th of 1.25% for each month thereafter October 2007 - September 2008 3.75% with respect to October 2007, plus an additional 1/12th of 1.25% for each month thereafter October 2008 - September 2009 5.00% with respect to October 2008, plus an additional 1/12th of 0.75% for each month thereafter October 2009 and thereafter 5.75% Subordinated Certificates: The Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates.
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE June 2009 - May 2010 4.50% with respect to June 2009, plus an additional 1/12th of 2.00% for each month thereafter June 2010 - May 2011 6.50% with respect to June 2010, plus an additional 1/12th of 2.25% for each month thereafter June 2011 - May 2012 8.75% with respect to June 2011, plus an additional 1/12th of 1.75% for each month thereafter June 2012 - May 2013 10.50% with respect to June 2012, plus an additional 1/12th of 0.50% for each month thereafter June 2013 and thereafter 11.00% Stepdown Trigger Event: With respect to the Certificates on or after the Stepdown Date, a Distribution Date on which (1) the quotient, measured on a rolling three month basis, of (A) the aggregate Stated Principal Balance of all Mortgage Loans that are 60 or more days Delinquent (including, for the purposes of this calculation, Mortgage Loans in foreclosure and REO Properties and Mortgage Loans with respect to which the applicable Mortgagor is in bankruptcy) and (B) the aggregate Stated Principal Balance of the Mortgage Loans as of the preceding Servicer Remittance Date, equals or exceeds the product of (i) 14.25% and (ii) the Required Percentage or (2) the quotient (expressed as a percentage) of (A) the aggregate Realized Losses incurred from the Cut-off Date through the last day of the calendar month preceding such Distribution Date and (B) the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds the Stepdown Required Loss Percentage. For purposes hereof, for any Distribution Date, the calculation of "rolling three-month basis" requires first, the calculation of the quotient described in (a) of this definition for each of the three (3) Due Periods immediately prior to such Distribution Date, second, the addition of such three (3) quotients and third, dividing the sum of such three (3) quotients by three (3). Subcontractor: Any outsourcer that performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to 5% or more of the Mortgage Loans under the direction or authority of a Servicer (measured by aggregate Stated Principal Balance of the Mortgage Loans, annually at the commencement of the calendar year prior to the year in which an Assessment of Compliance is required to be delivered, multiplied by a fraction, the numerator o...
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Related to Stepdown Required Loss Percentage

  • Class B Loss Percentage With respect to any Determination Date and any Class of Class B Certificates then outstanding, the percentage calculated by dividing the Principal Balance of such Class by the Class B Principal Balance (determined without regard to any Principal Balance of any Class of Class B Certificates not then outstanding), in each case determined as of the preceding Determination Date.

  • Class A Loss Percentage As to any Determination Date and any Class of Class A Certificates (other than the Class A-PO Certificates) then outstanding, the percentage calculated by dividing the Principal Balance of such Class by the Class A Loss Denominator (determined without regard to any such Principal Balance of any Class of Class A Certificates not then outstanding), in each case determined as of the preceding Determination Date.

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Group II Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which (A) the Group II Class A Certificate Principal Balance (reduced by the Group II Principal Funds with respect to such Distribution Date) is less than or equal to (B) ___% of the Stated Principal Balances of the Group II Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group II, in each case, as of such Distribution Date.

  • Cumulative Loss Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred from the Cut-off Date to the last day of the calendar month preceding the month in which such Distribution Date occurs and the denominator of which is the Cut-off Date Pool Principal Balance of the Mortgage Loans.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Stepdown Date The earlier to occur of (1) the Distribution Date on which the aggregate Certificate Principal Balance of the Class A Certificates has been reduced to zero and (2) the later to occur of (x) the Distribution Date in July 2009 and (y) the first Distribution Date on which the Credit Enhancement Percentage of the Class A Certificates (calculated for this purpose only after taking into account distributions of principal on the Loans, but prior to any distribution of the Principal Distribution Amount to the Certificateholders then entitled to distributions of principal on such Distribution Date) is greater than or equal to 14.50%.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Loss Percentage means on any day the greater of (i) one and one-half (1.5) times the Loss Horizon as of such day and (ii) 20%.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • REMIC I Overcollateralized Amount With respect to any date of determination, (i) 1% of the aggregate Uncertificated Balance of the REMIC I Regular Interests (other than REMIC I Regular Interest I-LTP) minus (ii) the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, in each case as of such date of determination.

  • REMIC 2 Overcollateralization Target Amount 1.00% of the Overcollateralization Target Amount.

  • Group I Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which the Group I Class A Certificate Principal Balance (reduced by the Group I Principal Funds with respect to such Distribution Date) is less than or equal to ____% of the Stated Principal Balances of the Group I Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group I, in each case, as of the Distribution Date.

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cut-off Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.

  • Loan Group II Cap With respect to the Group II Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group II Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to: